Guotai Junan and Haitong Securities Merger Progress

Guotai Junan Securities Co., Ltd. Class H (HK:2611) has released an update.

Guotai Junan Securities and Haitong Securities are moving forward with their proposed merger and share exchange, having received key regulatory approval from the SFC for Guotai Junan to become a substantial shareholder in Haitong’s subsidiaries. However, additional conditions and approvals are still pending, including anti-trust clearances and shareholder approvals, before the merger and associated share placements can be completed.

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